Celgene rated at buy by Merrill

Merrill Lynch analyst Tom McGahren gave Celgene Corp. a buy rating as Thalomid data tracks ahead of the analyst's raised estimate of $106 million and consensus of $101 million, buoyed no doubt by higher pricing and a label in front-line multiple myeloma. While complete sales data is not yet available for Revlimid, McGahren sees a strong uptick in September. Merrill estimates third-quarter Revlimid sales of $94 million. Shares of the Summit, N.J.-based pharmaceutical company were down 98 cents, or 12.17%, at $44.14. (Nasdaq: CELG)

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